EMC is long-standing leader in data storage for governments and business, and as such has been in the news lately as a victim of constant hack attacks.
Okay, fine. NFTRH+ is mostly about chart patterns, so here is the Cup & Handle pattern on a weekly chart of EMC for the consideration of anyone who may be interested.
The 2015 downtrend line (top line of the Handle) was broken a few weeks ago, weekly MACD is triggered up from deeply negative and RSI has crept back to 50.
Here is the longer-term view of the Cup, complete with a higher right side than left side, which I like to see. The Cup is technically not activated until it makes a new high above 30. If that were to happen, the long range target would be 39.
Buy Target: 26 to current level.
Sell Target: Anywhere profitable, but long-term a break above 30 would target 39.
Stop Loss: Below 25 to suit risk tolerance.
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst.
